Metro Denver Real Estate Market Report

Denver’s real estate market has remained a seller’s market for the last handful of years. There are far more buyers than there are sellers, leaving the power scales tipped in favor of those listing their homes for sale.

The start of 2018 saw no change in this dynamic… active listings hit a record low in January even though new listings increased since this time in 2017. Yup, that means that there were more buyers too! Regardless of the reason, Denver’s listing shortage continues to take hold of the residential real estate market.

Of course, home values continue to inflate, reaching an average of $449,429 this month. That’s almost a 12% increase since January of last year and scarce listings are at least partially to thank/blame.

The Apparent Slow Down, By The Numbers

The Denver real estate market expects to see continued winter slow down in December, especially with the holidays playing into non-real estate distractions. The number of sold homes are down and days on market are up - does this mean that Denver will see a real estate slow down? This month’s numbers certainly indicate the holiday season, with a slowing in sold homes (-13%), as compared to December of last year, that exceeds the decrease in active listings (-10%).

...But The Numbers are Skewed

However, consider single family homes as vs. attached homes. Since October, we’ve noticed new-build luxury condo numbers skewing the rest of the market data. This was just as true in December.

Last month’s data was business as usual for Denver’s low inventory, rising value real estate market. In November, the average single family home sold for $479,192. And while a yearly seasonal slow down is underway, year over year data shows the market continuing to thrive. Active inventory decreased as compared to this time last year and the average home price increased year over year. With high demand and low numbers of homes on the market, residential property values continue to bolster, even in this highly valued market! The short of it is that Denver home prices continue to rise steadily.

According to Joe Chang, Denver real estate agent, "Tight supply and sustained demand should drive prices higher into next year."

The Real Estate Paradox: Days on Market are Up, While Inventory is Down

Metro Denver’s residential real estate data for November is a bit all over the place. Active inventory has decreased by 6% since last year, yet homes are spending 15% more time on the market (equalling an extra 5 days on average). In fact, according to real estate agent Shelley Conger, "inventory set a new record low" despite the sizable increase in days on market. These two numbers seem at odds with each other… there’s less inventory (tipping the market scales even farther in favor of sellers), yet homes for sale are spending significantly longer on the market than this time last year! And, to make things even more confusing October saw 10% more Denver homes under contract

We get asked All. The. Time. "Are we on the edge of another Denver housing bubble?" And we totally get it! Choosing to invest in a home is one of the most impactful financial choices you'll ever make.
Even though we don't claim to have any kind of crystal ball, what we do have is access to information like this...which, in short, outlines why we still think Denver area housing is a safe bet.

Housing markets can be drastically different in various parts of the United States, which is why we think it's really important to keep a close eye on what's happening in the Denver Metro Area. The Denver Metro Association of Realtors releases it's most recent area data monthly, and the numbers continue to reassure would-be Denver area

As summer stepped out the door like a backpack clad child happily (you can read the sarcasm, right?) skipping off to school, August rode on by like the buzzing yellow school busses shipping those very happy kids off to school.

The thing is, all that bustle and fuss focused on moving back into a daily rhythm - August energy veers away from springtime house hunting and toward schedules, school days, and daily commitments.

Agents know that the real estate market steps in tune with the school calendar, so comparing this August’s trends to August of last year provides more insight than a comparison to last month.

You’ve read it in the news and heard the water cooler discussions: real estate trends aren’t what they were in May. The August

"The current data is hinting that the extreme sellers’ market is showing some early signs of easing,” explains listing agent Rebekah Robinson. This month’s market report from The Denver Metro Association of Realtors reveals several clues that buying an affordable Colorado home may become much less stressful in the near future.

CLUE 1: Average days on market 27 (Went down almost 7% since last month, but has gone up almost 4% since this time last year!)

Although homes are spending less days on the market as compared to last month, we’re seeing homes wait a bit longer to sell than this time last year. This means that buyers have a bit more time to get offers in and may be facing less intense competition.

Denver Real Estate Market Report for June 2017 - As Colorado real estate takes its steady step up into summer, buyers are feeling the heat. With increases in listings lagging and ballooning numbers of buyers, Colorado home costs are on the rise and Denver homes for sale are going quickly. Sellers, take heart knowing that your home equity is in the safe hands of a booming market. But buyers, be on your toes for a lightning-paced purchasing process.

Single family homes were on the market for less days than the same time last year and the average price of a detached home was $490,700 - that’s almost a 10% increase over May of last year! Active inventory is up as well, but not quite enough to keep up with demand. Our Live Love Wag team pointed out

Spring in Denver brought an uptick in active listings, under contracts, and average sold prices. Some stabilization in the market may be on the horizon though. The continued rise in cost of low-end properties will most likely cause less demand and a slow leveling off of home prices.

Denver Real Estate Market Report April 2017

March began the Denver Real Estate Market’s typical spring upswing and April is poised to follow! Listings, prices, and contracts continue to balloon, at an even greater rate than the standard spring increase. Moving trucks can be seen on nearly every block in the most popular areas of the greater Denver area and it won’t stop there! With good news for buyers and sellers alike, April is sure to be a red-letter month for the residential real estate industry.

A rise in new listings has created a friendlier market for buyers, though buyers can still expect to face multiple offer situations. According to Live Urban Agent, Doug Yetman, “The highly competitive market is the new standard, with multiple offers